407 7th ave s
Multifamily | 21 Units | $95,190/unit
Marketing description
The property consists of a compound of 4 buildings located in the highest density zoning, MUH, that spreads over 0.66 acres and
includes a total of 21 units, comprising 16 efficiencies and 6 two-bedroom apartments producing an NOI of over 250K.
Combining this property with 706 Mitchel Dr and 406th 8th Avenue South would result in a bundle of 30 units, consisting of 19
efficiencies and 11 two-bedroom apartments, covering a total of 0.98 acres in the highest density zoning that is eligible for a
pud. MUH zoning allows for the construction of high-rise buildings up to almost 200 feet tall.
Investment highlights
LOCATION, LOCATION, LOCATION. The property consists of a compound of 4 buildings in the highest density zoning, MUH, that
spreads over 0.66 acres and includes 21 units, comprising 16 efficiencies and 6 two-bedroom. The apartment building is suitable for
short-term and long-term rentals. Situated between Ocean Blvd. and Highway 17 Business - a short walk to the beach, restaurants, and shopping.
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